Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their
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Subcontractor Default Insurance: Pros & Cons for General Contractors
Construction is a risky business, with among the highest rates of failure of any industry. In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general…
What Is an RFQ in Construction?
By Daniel Gray
A request for quote (RFQ) is a document that enables property owners, construction companies, and contractors to obtain detailed cost information about materials and services. Typically, businesses use RFQs when they already know what they need and simply want to…
Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB
By Thomas Tracy
When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re…
Mayer Building Company for Subcontractors: Payment Guide & Resources
By Daniel Gray
For subcontractors looking to work with Mayer Building Company (MBC), it’s helpful to research the company’s history, past projects, and payment procedures. Establishing a relationship with a new GC requires careful consideration — especially if you want to get paid…
A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?
By Thomas Tracy
Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash…
8 Ways for Contractors to Build Trust With a Homeowner
By Tom Scalisi
Contractors often get a bad rap. While homeowners know they need a contractor to repair their house after a storm, complete a renovation, or build their dream home, they’ve heard the stories. They can come in expecting contractors to take…
How to Avoid Running Out of Cash on a Construction Project
Getting a big project can be a big win — but it also has downsides. Bigger projects require more materials and more labor, which means higher cash requirements. Contractors can take on more work than their cash flow will let…
Can Restoration & Remediation Contractors File a Mechanics Lien?
Restoration and remediation contractors provide a unique blend of services. A lot of what they do is clean up and hazard removal, but many also provide reconstruction services to get buildings back to the way they were before the disaster.…
Construction Site Theft: Impact and Prevention
By Tom Scalisi
As a contractor or sub, you can expect to incur many costs during the course of a construction project. Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. However, there is one very expensive cost…